ITO, Mancherial V. V. Kishore Babu, Sirpur Kaghaznagar

ITA 512/HYD/2010

• Counselvise Citation: [2011] 134 COUNSELVISE.COM (IT) 3267 (ITAT-HYDERABAD)
• Duration Of Justice: 1 year(s) 1 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-06-2011
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 14-03-2011
• Assessment Year: 2005-2006
• Appeal Filed On: 12-04-2010
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: B V PRASAD REDDY
• Keywords: Depreciation

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B', HYDERABAD BEFORE SHRI G.C. GUPTA, VICE PRESIDENT AND SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER I .T.A. NO. 512/HYD/2010 A.Y. 2005-06 INCOME-TAX OFFICER WARD-I, MANCHERIAL VS. SHRI V. KISHORE BABU SIRPUR KAGHAZNAGAR PAN: AANPV8805A APPELLANT RESPONDENT APPELLANT BY: SHRI B.V. PRASAD REDDY RESPONDENT BY: NONE O R D E R PER CHANDRA POOJARI, AM: THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST TH E ORDER OF THE CIT(A)-VI, HYDERABAD DATED 20.01.2010 FOR AS SESSMENT YEAR 2005-06. 2. THE GRIEVANCE OF THE REVENUE IN THIS APPEAL IS W ITH REGARD TO ALLOWING OF DEPRECIATION BY THE CIT(A) ON TRUCK AFTER ESTIMATING THE INCOME AT 6% OF THE GROSS RECEIPTS. 3. NONE APPEARED FOR THE ASSESSEE. 4. WE HAVE HEARD THE LEARNED DR. IN OUR OPINION, W HEN THE INCOME IS ESTIMATED BY APPLYING THE SPECIFIC RATE O N GROSS RECEIPTS, THE ASSESSEE CANNOT CLAIM ANY FURTHER DED UCTION SINCE ANY DEDUCTION ALLOWABLE UNDER THE PROVISIONS OF SEC TIONS 30 TO 38 OF THE INCOME-TAX ACT, 1961 SHALL BE DEEMED TO H AVE BEEN ALREADY GIVEN FULL EFFECT TO AND NO FURTHER DEDUCTI ON UNDER THOSE SECTIONS SHALL BE ALLOWED. THE DEPRECIATION BEING ALLOWABLE U/S. I.T.A. NO. 512/HYD/10 SHRI V. KISHORE BABU ================= 2 32 IS ALSO DEEMED TO HAVE BEEN ALLOWED. AS SUCH FU RTHER DEDUCTION OF DEPRECIATION CANNOT BE ALLOWED TO THE ASSESSEE. BEING SO, WE ARE NOT INCLINED TO CONFIRM THE ORDER OF THE CIT(A). ACCORDINGLY, THE ORDER OF THE CIT(A) IS REVERSED ON THIS ISSUE. 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS ALLO WED. ORDER PRONOUNCED IN THE OPEN COURT ON 8 TH JUNE, 2011. SD/ - (G.C. GUPTA) VICE PRESIDENT SD/ - (CHANDRA POOJARI) ACCOUNTANT MEMBER HYDERABAD, DATED 8 TH JUNE, 2011 TPRAO COPY FORWARDED TO: 1. INCOME-TAX OFFICER, WARD-I, MONIKA LODGE, 1 ST FLOOR, BPL X ROAD, MANCHERIAL-504 208. 2. SHRI V. KISHORE BABU, PROP. TIRUMALA TIRUPATI TR ANSPORT, 1-16-248/A, INDUSTRIAL AREA, SIRPUR KAGHAZNAGAR. 3. THE CIT(A)-VI, HYDERABAD. 4. THE CIT-V, HYDERABAD. 5. THE DR B BENCH, ITAT, HYDERABAD